InterGlobe Aviation Ltd (IndiGo) has been caught in a perfect storm. The unprecedented crisis has led to over 4,200 flight cancellations for IndiGo in the past 8 days, which are 23 per cent of the 2,300-plus daily flights the airline was scheduled to clock in December 2025. But Emkay Global has kept its 'Buy' rating intact on the stock with a target of Rs 6,300, saying operations have improved in the last few days, with relatively low 530 cancellations on December 8. Advertisement

IndiGo expects normalisation from Wednesday, though the situation is still evolving with respect to the government's action, if any, on the company, as the DGCA probe under way.

Emkay Global has cut it FY26 revenue estimate by 3 per cent, Ebitda estimate by 8 per cent and ex-forex PBT by 17 per cent. It estima

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